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Last updated at: (Beijing Time) Monday, February 24, 2003

Russia, Belarus, Kazakhstan, Ukraine to Create New Regional Organisation

Presidents of Russia, Belarus, Kazakhstan and Ukraine Vladimir Putin, Alexander Lukashenko, Nursultan Nazarbayev and Leonid Kuchma signed on Sunday in the Kremlin a statement on preparations to set up a new organisation of regional integration, within the framework of which a common economic space is to be created.


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Presidents of Russia, Belarus, Kazakhstan and Ukraine Vladimir Putin, Alexander Lukashenko, Nursultan Nazarbayev and Leonid Kuchma signed on Sunday in the Kremlin a statement on preparations to set up a new organisation of regional integration, within the framework of which a common economic space is to be created.

The document reads as follows:

"We, heads of state of the Republic of Belarus, the Republic of Kazakhstan, the Russian Federation and Ukraine, aspiring to contribute to the economic and social progress of our peoples, to raising their living standard, proceeding from the principles of stable development, taking into account that consistent economic reforms in our countries have created preconditions for further expansion of multilateral economic cooperation and reinforcement of integration processes, developing the clauses of the Agreement on a free trade zone of April 15th, 1994, confirming the agreements worked out at the CIS summits in Chisinau and Kiev, as well as our determination to create a Common economic space, announce a new state of economic integration and start negotiations on measures necessary to form a Common economic space.

The negotiations will result in preparation of an agreement on forming a Common economic space by September 2003, coordinated economic policy in a number of directions, harmonisation of the corresponding legislation and creation of the common regulating independent inter-state Committee on trade and tariffs.

The final goal of the work is to set up an Organisation of regional integration.

With this purpose the Parties found a joint high-level Group and confirm its mandate".

Source: Agencies




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